Crisis Moment - Watching Hardware Enterprises
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According to the British "Financial Times" columnist Andrew Hill article to the hardware industry reminder, how much to think about it from below. At the end of November, American Airlines finally entered bankruptcy protection. Eight years ago, the company's employee compensation in terms of salary seemed to help its parent company AMR find a way out of disaster. Some claim that in 2003, managers failed to get enough concessions from their employees. Others said that employees have not done their part since then. Many people believe that bankruptcy “penalties†would have benefited Americans. Even taking into account the various benefits of the US bankruptcy mechanism and the bad record of airlines in labor relations, this is a self-defeating practice. Managers should not press the "Restart" button when the trouble occurs. However, as the AMR incident illustrates, it is difficult to convince people to make sacrifices, and it is more difficult to judge whether these sacrifices are sufficient. How can employers – and governments – persuade people to abandon welfare, wages, and work on the grounds of collective interests? It is generally assumed that journalists who are passionate about the management story of heroism have contributed to this – the direct boss’s frankly unacceptable facts are kings. But it is hard to be strong enough to be convinced by honesty alone. Take AMR's rival United Airlines as an example. In 2001, just after the 9-11 terrorist attacks — an obvious crisis for the entire aviation industry — shortly after, United Airlines Chairman Jim Goodwin warned that if no further cuts were made Cost, the group will "dead". The union accused him of being alarmist (of course, some of his colleagues were killed in the terrorist attack). He had to step down. But a year later, United Airlines filed for bankruptcy protection under Chapter 11 of the Bankruptcy Law. When employees feel panic and uncertain in the future, managers must ensure that the severity of the company's situation is frank through tireless discussions and flexible communication. In February of this year, Nokia CEO Stephen Elop put forward the famous "burning platform" theory in the memo, which shocked the outside world. In a memo, he warned employees that the phone maker is facing an abyss. But - at least according to what Elop had given me at the time - his staff understood the seriousness of the situation because he had consulted with them in advance: "For its part, you think, oh my god, this The memo) will be a wake-up call...but what people don't see is a stable communication model and an emphasis on these issues.†Honesty is indispensable, but in crisis, the more important management virtue is trust. In 2003, AMR seemed to have won short-term trust from employees. But within a few days, the deal was ruined – it was revealed at the time that the company’s chief executive, Don Carty, agreed to provide special retention bonuses and benefits for senior employees. He lost his job; American managers lost the pitiful trust they had. In hindsight, a lingering sense of distrust undermines the long-term stability of the airline: that is, executives and employees are no longer "in the same boat." If managers are unable to develop a successful strategy, honesty, trust, communication and shared sacrifice will become worthless. After a fire in 1995, Aaron Feuerstein, owner of the cashmere manufacturer Malden Mills, bravely rebuilt his factory in the United States and rehired most local employees. He won the loyalty of the staff and the appreciation of the media. But because of his over-investment in the factory and underestimating the threat from Asian competitors, the company filed for bankruptcy six years later, despite his last loyalty. As the Greek and Italian governments have just discovered, they believe that their politicians have no ability to manage the country's voters and will never agree to self-sacrifice and austerity plans. It is no coincidence that Germany has the record of the best self-sacrifice of employees in recent years. As the global economic outlook deteriorates, the tradition of communication between employers and employees in the country, coupled with government-subsidized short-term work systems and general trust in management and governance capabilities, has prompted pragmatic unions to agree to shorter working hours. This compromise helped many German companies survive the severe downturn of 2008 and quickly resumed production when demand rebounded at the end of 2009. Survival is not a state of feeling happy. Behind every Bavarian tool maker who enjoys the benefits of timely compromise, there are 100 struggling companies: the overwhelmed managers and the cheaper employees are striving for more with less. Like governments from Rome to London, they fear having to make or endure a second round of decision to shorten working hours. An indisputable fact is that even a good communication, the trust of employers and employees, the common sacrifice and flexible management cannot guarantee a soft landing when a fierce macroeconomic crosswind strikes. Did you encounter the situation in the article at the end of the year? Although the hardware industry is traditional, it must also keep pace with the times, pay attention to management, prevent problems before they happen, especially now that the international environment is complex and changeable, and always ready to welcome the 2012 bell.